When a country follows an inward-oriented strategy, it tends to produce:
a. only tertiary goods.
b. goods in which it has an absolute advantage.
c. only labor-intensive goods.
d. goods for which no export barriers exist.
e. goods that replace foreign manufactured products.
e
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Explain the differences between inclusive and extractive economic institutions
What will be an ideal response?
Explain why the actual deficit is a poor measure of fiscal policy.
What will be an ideal response?
Some nations such as Ecuador chose dollarization because:
a. the currency was depreciating so rapidly it became nearly worthless. b. Ecuadorians wanted to save dollars for eventual emigration to the U.S. c. the Ecuadorian currency was backed by gold,which was confiscated by government officials. d. All of these are reasons why such countries chose dollarization.
Some economists argue that free trade is beneficial regardless of the actions of a country's trading partners, including trading partners that heavily protect their home markets
Indicate whether the statement is true or false